The Economic and Financial Crimes Commission (EFCC) of Nigeria has disclosed that it recovered a total of ₦27,184,357,524.52 and $19,084,419.33 in three separate money laundering cases. Out of this recovered sum, ₦12.7 billion was traced back to a single individual.
The EFCC is actively investigating former governors, ex-ministers, and various government officials across the country in its ongoing efforts to combat corruption. The Acting Chairman of EFCC, Abdukarim Chukkol, made these revelations during a media interaction with select journalists in Lagos.
Chukkol, represented by the commission’s spokesperson, Dele Oyewale, stated that the agency is diligently working on recovering more illicit funds and will soon make public the details of its investigations into the activities of certain past leaders.
The EFCC has also taken action to address monumental procurement fraud linked to officials of the Federal Ministry of Power and the Ministry of Agriculture. Illicit funds intended for projects such as Mambilla and Zungeru Power were diverted through various Bureau de Change operators. As a result, several properties have been seized in the Federal Capital Territory, Lagos, and Cross River states, which are believed to be proceeds of these diverted funds.
Chukkol emphasized that ongoing investigations include allegations against some former governors, who currently hold ministerial positions or are members of the National Assembly. He assured the public that once these investigations are concluded, individuals involved will face prosecution in accordance with the laws, regardless of their official positions.
Furthermore, Chukkol highlighted the agency’s increased focus on preventing financial and economic crimes, as it is a more cost-effective approach compared to investigating and prosecuting after the fact. EFCC intends to enhance its preventive mandate through public enlightenment campaigns and other initiatives.
